Chapter 7/9 Flashcards
(34 cards)
Tenement
Multistory buildings divided into crowded apartments
Urbanization
The movement of people to cities
Labor union
Workers organization that eventually gained the right of voting for all working men
Utopia
Impractical dreamers who tried to build self-sufficient communities where all work was shared and all property was owned in common
Utilitarians
The idea that the goal of society should be “the greatest of happiness for the greatest number” or its citizens.
Means of production
The farms, factories, railways, and other large businesses that produced and distributed goods
Bessemer process
A process to purify iron ore and produce steel. Steel was lighter, harder, and more durable than iron
Interchangeable parts
Identical components that could be used in place of one another
Assembly line
Workers add parts to a product that moves along a belt from one work station to the next
Stock
Shares in their companies, to investors
Corporation
Businesses that are ones by many investors who buy shares of stock
Standard of living
Measures the quality and availability of necessities and comforts in society
Social gospel
A movement that urged Christian to social service
Capitalism
An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations
Socialism
An economic system in which government controls key industries, but still allows small privately owned companies
Communism
The final step in Marx’s economic theory. An economic system in which all workers freely share in the profits from the products they make because they are equal owners.
Who was Adam smith
Advocates for a free market with no government regulation.
Which two theorists believed that the population would outpace the food supply
Thomas Malthus and David Ricardo
Who were the two main utillitarians
Jeremy Bentham and John Stuart Mill
What was the Communist Manifesto and who created it
Karl Mark created it, and is was a reaction against the widening gap between the rich and the poor.
What did Karl Marx believe in
a classless society
This is a society where certain key industries are operated by the government.
Socialism
This is a society where people do not all start at the same economic level. There is a free market. Companies are managed by shareholders or individuals
Capitalim
What was the origin of species and who wrote it
Charles Darwin, and it stated that all living organisms evolve over the course of millions of years. Nature selects some species for extinction.